Odaily Odaily reports that U.S. Attorneys in Maryland have announced additional charges against cryptocurrency promoter Rodney Burton (online name "Bitcoin Rodney") for allegedly participating in the promotion of the approximately $1.8 billion HyperFund (also known as HyperVerse) Ponzi scheme. The new indictment accuses him of multiple counts, including conspiracy to commit wire fraud, wire fraud, money laundering, and operating an illegal money transfer business.
Prosecutors allege that between 2020 and 2024, Burton and others packaged HyperFund as a legitimate cryptocurrency investment platform, promising investors daily returns of 0.5%–1%, claiming the returns came from large-scale cryptocurrency mining, when in fact no such mining operation existed. Starting in 2021, the platform began restricting user withdrawals. The indictment also alleges that Burton used investor funds to purchase luxury apartments, sports cars, and yachts.
If convicted on all charges, Burton could face decades in federal prison. He remains in custody, and the trial is scheduled for March next year. Previously, another HyperFund co-founder, Sam Lee, was indicted by the SEC but remains at large. (The Block)
